The real estate industry of the metropolis has always been on the radar for thousands of investors. Given the substantial returns that the land promises, the hype is justified. For NRIs, as well as foreign investors, Mumbai has always been the centre of attention, not just of the MMR, but of the country in general. It’s only natural that the growing number of NRIs buying property in India is increasing.
This fame that the financial capital of the country enjoys is due to many reasons of which two stand out. Firstly, never has there been any decrease in demand for real estate options in Mumbai. Given the location, the facilities, the significance and industrialisation that’s part of its appeal, millions are always migrating to the city.
Secondly, it’s always been on the list of cities the government prioritises for infrastructural development. Even now, there are large-scale projects due for completion in the next decade, aiming to revolutionize the infrastructure.
However, before we even begin, let’s establish the hard fact that real estate is not child’s play. You can’t just throw some money anywhere in the ground and wake up tomorrow to reap profits. It’s a game of knowledge, information, research, negotiations and most of all, patience. Regardless of how successful the rest of your venture goes, you will need to wait a while before yielding serious returns.
To exploit the situation of the city’s real estate industry, you need to be on the lookout for opportunities all the time. There are no seasonal investments, especially in real estate. Even at the bleakest of economical times, huge profits are being made somewhere. You just need to be one of the few who’re investing at the right place for the right time. Investments can return as much as twofold the value of your initial cost. Although, as we discussed before, it will require a lot of patience and research.
So, let’s take a look at the possible opportunities you can make use of:
If you don’t know what the market is demanding currently, you won’t be able to get the ideal property. In fact, even tenant demands should be noted before you consider narrowing down the location.
One of the things that can help you is the market inclination towards larger configurations. People are looking for bigger options for residential properties for sale in Mumbai. That’s probably because of the recent imposition of lockdown protocols that rendered everyone inside their homes. The fear of being trapped in smaller spaces might be influencing market sentiments.
Mumbai’s market consists of various commercial and residential neighbourhoods that are often intertwined. Unlike other places with symmetrical layouts, Mumbai infrastructure is largely based on a need-it-now basis. If an area starts booming with residential options, commercial real estate demand will eventually rise in the area. Similarly, if businesses and corporations start inhabiting a locality, the surrounding land mass becomes ripe for residential and commercial real estate investments.
As mentioned above, the metropolis is almost always going through infrastructural changes. Therefore, you need to be on the lookout for developments in specific areas that will attract significant attention.
Right off the bat, check out the plans for metro lines connecting the northern peripheries of the MMR with the southern ends of Mumbai. Transit options such as these will allow people to be able to travel from Thane to as far as BKC. This project will not only reduce travel time by almost 50%, but it will also clear up crowded roads and highways. Moreover, it will also result in the eruption of land masses near metro stations that will welcome development. Real estate developers will compete to provide top-notch projects for investment. That is what a smart investor will wait for.
Similar projects are planned across the MMR that are going to change the status quo. As things change, so will market tendencies, interests, sentiments and inclinations. You are likely to score a good real estate investment if you start your search now and examine multiple places and scenarios. Make sure to exhaust all options and try to narrow down areas that are going to witness prosperity. Like always, if you’re with the right place at the right time, your chances of profiteering from your venture are high.
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